Traders Buy Pfizer Inc. (PFE) on Weakness
Traders purchased shares of Pfizer Inc. (NYSE:PFE) on weakness during trading on Thursday. $109.87 million flowed into the stock on the tick-up and $71.13 million flowed out of the stock on the tick-down, for a money net flow of $38.74 million into the stock. Of all stocks tracked, Pfizer had the 6th highest net in-flow for the day. Pfizer traded down ($0.09) for the day and closed at $35.77
Several research firms have recently weighed in on PFE. TheStreet upgraded Pfizer from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 3rd. Vetr upgraded Pfizer from a “hold” rating to a “buy” rating and set a $36.89 target price on the stock in a research report on Tuesday, June 7th. Deutsche Bank AG restated a “buy” rating on shares of Pfizer in a research report on Wednesday, June 15th. Jefferies Group restated a “buy” rating and issued a $42.00 target price (up previously from $41.00) on shares of Pfizer in a research report on Tuesday, June 14th. Finally, Goldman Sachs Group Inc. set a $37.00 price target on Pfizer and gave the company a “neutral” rating in a report on Monday, May 9th. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pfizer presently has an average rating of “Buy” and a consensus target price of $38.01.
The firm has a market capitalization of $216.94 billion and a P/E ratio of 29.32. The stock has a 50 day moving average price of $34.71 and a 200 day moving average price of $32.06.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The business had revenue of $13 billion for the quarter, compared to analysts’ expectations of $12 billion. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. On average, analysts predict that Pfizer Inc. will post $2.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 5th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, August 3rd.
In other Pfizer news, CEO Ian C. Read sold 275,000 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $33.80, for a total transaction of $9,295,000.00. Following the transaction, the chief executive officer now owns 1,446,738 shares of the company’s stock, valued at approximately $48,899,744.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Frank A. Damelio sold 87,079 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $33.65, for a total value of $2,930,208.35. Following the transaction, the executive vice president now directly owns 372,994 shares in the company, valued at approximately $12,551,248.10. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of the company. TIAA CREF Trust Co. FSB MO raised its position in shares of Pfizer by 2.6% in the fourth quarter. TIAA CREF Trust Co. FSB MO now owns 662,886 shares of the biopharmaceutical company’s stock worth $21,398,000 after buying an additional 16,578 shares in the last quarter. Welch & Forbes LLC increased its stake in Pfizer by 0.5% in the fourth quarter. Welch & Forbes LLC now owns 1,064,786 shares of the biopharmaceutical company’s stock worth $34,371,000 after buying an additional 5,715 shares during the last quarter. Deltec Asset Management LLC purchased a new stake in Pfizer during the fourth quarter worth approximately $2,050,000. Oakworth Capital Inc. increased its stake in Pfizer by 12.6% in the fourth quarter. Oakworth Capital Inc. now owns 132,806 shares of the biopharmaceutical company’s stock worth $4,285,000 after buying an additional 14,870 shares during the last quarter. Finally, Seaward Management Limited Partnership increased its stake in Pfizer by 1.8% in the fourth quarter. Seaward Management Limited Partnership now owns 300,215 shares of the biopharmaceutical company’s stock worth $9,690,000 after buying an additional 5,407 shares during the last quarter.
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.